Now we have a standoff in the options market between bulls and bears. On one hand, many investors are betting the SPDR Gold Trust, recently at about $152, will fall to at least $144 and take out the 52-week low of $148.53. The rally in the SPDR Gold Trust on Friday shows just how skittish investors are—and this should keep gold a hot, volatile investment that's ideal for trading options.

The key price level to watch is $150, a quasi-support level. Near there, traders are aggressively buying puts that expire in up to three months to profit from a bigger fall.

During the past week, bearish puts that would increase in value if the SPDR Gold Trust fell to $144 were rampant when the exchange-traded fund was at $151. When the fund neared $150, the $148 puts became unusually active. The weak jobs data prompted some investors to cover their shorts, but the bear trade is still on as options trading patterns smack of nothing more than traders banging that which is banged up in hopes it will make a spectacular Humpty Dumpty-like fall. "Every commodity trader in the world is a momentum trader, and now they're playing the downside," a senior trader at a top global trading fund told me.

If you want to join the party, think about buying the SPDR Gold Trust April $147 put that expires Friday, April 12, for 59 cents. If the SPDR Gold Trust is at $144, the put is worth $3. If you do not mind spending more money on the put, look for puts that expire in about three months.

And if Facebook and Twitter execs are savvy, and they are, they could create investor-relations functionality to sell to corporations. The integration of social media and corporate investor relations should create rich material for business-school professors who will likely write research papers about how execs with thoughtful Facebook pages have higher and less volatile stock prices, because investors feel they trust them and know them because of their social-media presence.

I HAVE BEEN A MAJOR TWITTER fan and user for about five years. I find Twitter an indispensable tool for collating, controlling and calibrating financial information posted by smart investors. I also use Twitter to receive information from important sources like the Federal Reserve. If you weren't paying attention in June 2009 when I first wrote that Twitter was becoming intertwined with the financial markets and investing community ("For Markets, How Tweet It Is," June 22, 2009), I hope you'll do so now.

Of course, the SEC's endorsement of Twitter and Facebook means they are now less cool than hemorrhoid ointment. But the irony is that someone will post or tweet about the next new wrinkle in social media, and you'll know about it because of Twitter and Facebook.